Jawaharlal Nehru Port Trust (JNPT) is investing Rs 3,000 crore for improving road connectivity and also looking to finalize Rs 2,000 crore-dredging project, said Shipping Secretary, Rajive Kumar. The process is on for finalizing Rs 2,000 crore for dredging project and investing about Rs 1,000 crore within the port for improving both the rail and road network. He was speaking at a function on ‘Stimulating India’s EXIM Growth – reducing the indirect costs of trade’. He also said that operationalization of the fourth terminal will double the capacity of JNPT that they intend to start phase I in early 2018. Further, the government is working to reduce cost of logistics for traders. However, he said, the centre would have to negotiate with state governments to ensure that reduction of other local barriers for smooth movement of cargoes.
Speaking at the event, Director General of Foreign Trade (DGFT) A K Bhalla said that the country’s exports are showing growth in the last three months. He said under the WTO’s trade facilitation agreement in goods, India is bound to bring lot of reforms. Under the foreign trade policy (FTP), the commerce ministry extends lot of incentives to facilitate exports under certain schemes.